Modifies provisions related to an income tax deduction for certain farmers

HB 3324 modifies Missouri's method for calculating taxable income by adjusting federal adjusted gross income. It adds back certain federal tax benefits previously deducted, including pandemic-related refunds (like CARES Act payments), interest on specific government bonds, and excess depreciation deductions. The bill also includes subtraction provisions for items like federal interest income and state tax refunds to offset these additions. These changes apply broadly to Missouri taxpayers - not just farmers - and aim to align state tax calculations more closely with federal rules for specific income items. The bill is currently in early legislative stages (introduced February 2026).